Wednesday
December 16
2020

Majority of ASEAN Region Fintech Firms Are Planning to Raise Additional Funds While Expanding Operations in 2021: Report

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Four in five or 80% of Fintech companies in the ASEAN region are focused on expanding their operations following the COVID-19 outbreak. ASEAN member countries include Brunei, Burma (Myanmar), Cambodia, Timor-Leste, Indonesia, Laos, Malaysia, the Philippines, Singapore, Thailand and Vietnam.

A report from UOB, PwC and the Singapore Fintech Association reveals that the ASEAN region is now home to around 40 million new Internet users this year alone. Approximately 70% of the ASEAN population is currently using the Internet and digital technology adoption will only increase in the coming decade.

Photo courtesy of Xresch.

 

Source: Crowdfund Insider (link opens in a new window)

Categories
Technology
Tags
coronavirus, digital finance, digital payments, fintech, Internet